SAP FICO Interview Questions and Answers
SAP Financials accounting module enables you to manage financial accounting data within an international framework of multiple companies, currencies, and languages. SAP FI module mainly deals with the below financial components −
- Fixed asset
- Cash journal
- Accounts receivable and payable
- Tax accounting
- General ledger
- Fast close functions
- Financial statements
- Parallel valuations
- Master data governance
What is SAP FICO?
SAP FICO stays for FI ( Financial Accounting) and CO (controlling). In SAP FICO, SAP FI take ponders accounting, the course of action of cash related enunciations, survey figurings et cetera, while SAP CO take contemplations of burying orders, cost sheet, stock sheet, cost assignments et cetera. The item stores data, and besides forms them and recoups the result in light of the present publicizing circumstance. SAP FICO suspects data lost and besides does the affirmation and reporting of data.
What are alternate modules to which 'Budgetary Accounting' is incorporated?
Alternate modules to which 'Budgetary Accounting' is incorporated are
- Distribution and Sales
- Material Management
- Human Resource
- Production Planning
- Controlling of money related exchange
What are the hierarchical components in SAP FI?
The authoritative components of SAP FI:
- Company Code
- Business Area
- Functional Area
- Chart of Account
What is factual inner request?
Measurable inward request are cost objects used for announcing and examination. It must be presented with genuine question, ex: a cost focus.
Define one-time seller?
In specific organizations, particulary the one managing high money exchanges, it isn't common sense to make new ace records for each seller exchanging accomplice. One time seller permit a spurious merchant code must used on receipt passage and the data which is generally put away in the merchant ace.
What is credit control area in SAP?
To safe your association from the threat of loathsome commitments and diverse noteworthy receivable, you can set an a sound representative for limit for your customer by using credit control an area in SAP. With the help of SAP, you can hinder the transports to your customer in perspective of beyond what many would consider possible and the records receivable change in their record which is kept up by you.
Define credit control region in SAP?
Resistant your organization from the danger of terrible obligations and different remarkable receivable, you can set a credit to restrict for your client by utilizing credit control territory in SAP. With the assistance of SAP, you can obstruct the conveyances to your client in view of as far as possible and the records receivable adjust in their record which is kept up by you.
Define short-end financial year?
Short-end financial year comes about when you change from an ordinary monetary year to a non-date-book monetary year, or another path around. This sort of advance happens when an undertaking turns out to be a piece of another co-corporate gathering.
Define Esteem Field in CO-PA?
Esteem fields are number or esteem related fields in gainfulness examination, for example, amount, deal income, rebate esteem and so forth.
What is the use of Account Receivables in FI?
SAP FI Accounts Receivable segment records and oversees bookkeeping information of all clients. It is additionally a necessary piece of offers administration.
All postings in Accounts Receivable are likewise recorded straightforwardly in the General Ledger. Distinctive G/L accounts are refreshed relying upon the exchange required (for instance, receivables, initial installments, and bills of trade).
The FI-Asset Accounting (FI-AA) component is used for managing the fixed assets in FI system. In Financial Accounting, it serves as a subsidiary ledger to the General Ledger, providing detailed information on transactions involving fixed assets.
How would you perform Profitability investigation in SAP CO? What are the distinctive sorts of gainfulness investigation?
SAP CO-PA is utilized to break down the market fragments delegated items, clients, deals zone, business region, and so forth.
SAP CO Profitability Analysis (CO-PA) is utilized for the assessment of Market portions, which is grouped by −
items, clients, and requests
or on the other hand any mix of these
or on the other hand Strategic specialty units, for example, deals associations
or then again business zones, with reference to organization's benefit
or then again commitment edge
There are two kinds of Profitability Analysis are upheld −
Costing-based Profitability Analysis −
It is utilized to assemble the expenses and incomes according to the esteem fields. It is utilized to guarantee that you access consistently to a total, here and now gainfulness report.
Record based Profitability Analysis −
It is utilized to give you a productivity report that is for all time accommodated with budgetary bookkeeping.
It is for the most part utilized for getting data identified with deals, advertising, item administration and corporate arranging offices to help inward bookkeeping and basic leadership.
Define neighbour hood and parallel money in Sap?
Every Organization code consists of 2 extra monetary standards, cash entered into organization code and not with standing the organization code. The 2 extra monetary forms are called parallel monetary forms and cash entered in organization code is called neighbour hood. The parallel standards would be HARD CURRENCY and GROUP CURRENCY.
Where will you use the interior request?
Inward request are used to track the cost.
Is it possible to compute deterioration to the day?
Yes, it is possible. When you want to do that, you need to switch on the pointer dep to the day in the key arrangement.
What are the Authoritative assignments in Asset Accounting?
A diagram is appraised as the most elevated hub, in Asset Accounting and this is fixed to the organization hub.
What is the importance of benefit classes and what are the resource class are included in it?
The principle of benefit class is order resources. Every advantage is distributed to single resource class.